Pressure from financial firms and Treasury officials undermined efforts by former pay czar Ken...

|By:, SA News Editor

Pressure from financial firms and Treasury officials undermined efforts by former pay czar Ken Feinberg to limit executive pay at seven firms that were rescued with taxpayer money, according to a newly released report (.pdf) by TARP's inspector general. Firms had "significant leverage" over Feinberg in negotiating compensation based on historical pay.